Debbie, Mark does not think I am a buyer. I have no idea what he thinks I am. I guess to much education about real estate disqualifies one as a buyer.
I like to do an open houses with new listings... sometimes the first weekend it's on the market if I listed it in the beginning of the week.
I sold one home by having an open house a few days after a price reduction. I made the open house hours super short... just two hours! I wanted to pack the open house and create more interest in it. The short hours worked! The open house was VERY busy... and the person who bought it hung around the whole time and watched all of the other buyers checking the place out. He made an offer a few hours later through his agentâ€¦ and bought the home for just $2,000 below the listing price.
Douglas Fuller, Realtor, GRI, ABR, e-Pro
Certified Relocation Specialist
Prudential Northern Arizona Real Estate
Tell Mrs Rock I gave her an honorary TU for helping you with your response Rock (I am still laughing at the faceboogerin')
Doug lucky you!.........I see you're new to trulia - what a nice way to start off .........getting an accidental Best Answer!
Nicole - you'll get the hang of it...........welcome to trulia, too!
I know it takes awhile to get used to any new interface you come across.
Trulia can be a helpful resource both for finding helpful answers and potentially some nice clients and cooperative agents. I hope you continue to find it worth while visiting.
They will not buy the first house they see with almost a 100% guarantee. But what they will do instead is to look at many houses and find out what they like and dislike. Having open houses allows these confused buyers to figure out just what they do and do not like about houses. When they are finally ready to buy after looking at many open houses they will be able to say what they really want in a house, or at least be very very close.
I have done very similar myself. The only difference is that instead of going to open houses I have gone into the double-wides and modulars on a lot. Usually the salesmen almost completely ignore me. I get to get a feel for what kind of things I like and dislike based on going through a whole lot of houses. As an example, some bathrooms could be to big, others to small. Some bedrooms are to small, some are great. Some hallways work well, others make you run into things.
It is shocking how sometimes a double wide manufacturer can make a very bad floor plan. I went into one (maybe it was a modular) that almost as soon as you went in the house put a wall in your way. Horrible design flaw in my opinion. Kitchen islands, I find them more and more annoying every time I see one. Breakfast nooks, I am not sure, kind of nice BUT then you have to buy 2 kitchen tables from what I have seen.
Window sizes, natural lighting, and basic layout preferences can be figured out after looking at a few dozen houses. I see having an open house as more of a learning tool for potential buyers. They search out things they like and dislike.
Buyers can and will use open houses to help form an opinion of what they want in a house. As such any realtor who has one is helping buyers to figure out things they do or do not like AND gives them self a chance to find a new client. Plus, even if it only results in a sale 1 time in 100 it makes the sellers happy thinking their agent is actually trying things to sell their house.
Those same buyers may also find some agents they like or would never want to do business with at an open house.
ps.not to worry, we won't tell the mrs. you called her "old school" -
I would assume if Nicole wanted agents's points of view, she would have asked for them, and posted the question in a more generic manner.
Maybe I am wrong, and Nicole can certainly speak for herself.......... and I hope she does...... but at times here on trulia people sway from what is asked......
So far, she hasn't gotten an answer to her question - just a number of opinions related to it..but not the responses she was hoping to generate.
There have been lots of discussons here on trulia regarding the value of open houses..........most of the time, the responses indicate it is totally area specific..........lots of agent feedback seems to show that.............
It might be nice to see how buyers view it, and I assumed that's the response Nicole was going for.
I have attended some open houses with real estate agents. Some are very successful, in that there is good attendance from serious buyers, and other get almost no attention. In thinking about the well attended ones, I see that these are homes that are well priced for the area, and where there are not as many homes for sale. At open houses where there are a lot of short sales and foreclosures, and you are priced to high, people don't show up.
Nicole, as an agent I think you have to ask yourself whether you have the 2 hours to devote to the open house. If you are spending all your time taking out prospective buyers, then you might not want to spend it at an open house. On the other hand, if you are just going to be spending the day at the beach, you could spend 2 hours of that time at an open house, and at least your sellers will be happy that you are working for your money.
He does not have any way to contact him at all. And my links point back to my blogs.
Somehow, we have to figure out how to make money as both of our current models are not even potentially giving us any profit.
p.s. hey rockin... did you here et? We is perfezzionuls now. i wunder hew mich lunger intul we git pade?
So, Sunday it is. Thank you all for taking your time--- happy real estate to you all.
The irony is, an agent was awarded best answer, even though the question wasn't directed at agents......go figure.........maybe I am too literal or exacting! :) I always used to color in the lines!!!
Keep in mind; Open House turnout and effectiveness vary from home to home and area to area. The great thing about a secluded home location is low traffic. The horrible thing about a secluded home location is low traffic. You can use signs, internet & print for pulling people to your Open Houses but at the end of the day it depends on the home and the location.
In general, we still do Open Houses but the turnout is in general very poor compared to a few years ago. Blame the internet.
I perfectly understand the idea of having freedom to wander in and out of open houses...........and I do';t like to have a salesperson lurking in the shadows, following me around, either.............however........
Tell Mrs Rock, if she comes to one of my open houses, unfortunately, she will have to put up with me following her around............reason being, as a security measure, I feel I owe it to the seller who has opened their home to random strangers coming from a sign or the internet............I would never let anyone roam around a home unaccompanied.
Now, if Mrs Rock and I were buddies already.....had developed a rapport, and had an ongoing buyer/agent relationship, instead of shadowing her, I'd be trying to help her figure out if that big old king size four poster bed and double armoire you had would fit in the master bedroom we were looking at. i don't do hard sells, in fact I have been known to turn to my buyer and say, "this one isn't for you, let's leave! ! ha....
Now, go back and ask her if she wants to hang with me! :)
Since the original question didn't ask for an agent's opinion, I'm not going to debate the value, or lack thereof, of open houses.......overall..their success, in my opinion, is area specific..........for the most part, in MY area, they do not sell homes..........but they DO occasionally bring in potential new buyers for ME to take out at a later time.
I suppose one's idea of a "successful open house" depends on how you define success...was it successful for the seller, or for the agent?
Have a great Sunday!
If they like the property they come back with their realtor for a second look and to discuss privately with the realtor how much they should offer for the home.
Even if the people viewing the home are just "nosy neighbors" it pays to have them come through as many of them have family or friends they would like to have move nearby.
As a realtor I never think open houses are a waste of time - I have sold many properties due to holding open houses!
Open houses are great exposure for the house because all the neighbors come by and see what is going on in there and they might talk about it to someone so that is good, but they are overall not the most effective tool for actually selling the house.
In our location "open houses" are a rich resource for new customers.....not necessarily the best means to sell the subject property. We would definitely not consider them "a thing of the past."
The timing and location of an open house are keys to their success. Offering open houses in a difficult to get to remote location could be a wasted effort.
I am an agent in South Florida and I do hold open houses. I have had mixed results with open houses. The last one I had I gained a very serious buyer that I am still working with. I didn't sell the house to anyone who came to the open house but I did get a great buyer and my sellers felt really good that I made the effort. The most important thing is to remember not to schedule it during a good football game!